How Do Banking Systems Support Business Operations?
Banking systems support business operations in several ways:
Transaction Management: Banks offer various types of accounts to manage daily transactions, such as checking accounts and savings accounts. Financing: Through loans and credit facilities, banks provide the necessary capital for businesses to grow and expand. Merchant Services: Banks offer merchant services that allow businesses to accept payments via credit and debit cards. Risk Management: Banks help businesses manage financial risks through insurance products and hedging options.